Brent Crude Surpasses $100 per Barrel for First Time Since May

© изображение сгенерировано ИИ

Global oil prices surged during trading on July 23, with the benchmark Brent crude breaking the psychologically important $100 per barrel mark for the first time in nearly two months.

By 1:15 PM Moscow time (10:15 AM GMT), September futures for Brent were up 6.38% compared to the previous close, trading at $100.07 per barrel. The last time prices rose above this level was on May 22.

American WTI crude also saw a strong increase, with September futures rising 5.36% to reach $91.48 per barrel.